ATP Expands Expertise Offshore Israel

ATP announced its expanding its presence to offshore Israel, which is subject to approval by the Ministry of National Infrastructures. ATP has signed agreements to acquire five licenses, of which two are pending, in nearly 4,000 feet (1,219 meters) of water. "Each license offers an attractive opportunity in the Levantine Basin which is emerging as a prolific area," stated T. Paul Bulmahn, Chairman and CEO. ATP plans to operate all its licenses with working interests ranging from 40% to 50%.